Rigid Plastic Packaging Market to Grow at a CAGR of 5.57% by 2022: Radiant Insights, Inc.

[08-November-2018]

SAN FRANCISCO, November 8, 2018 /PRNewswire/ --

Global Rigid Plastic Packaging Market is expected to grow at a significant CAGR of 5.57% during the period 2018-2022 as the scope and its applications are rising enormously across the globe. Rigid Plastic Packaging comprises closures, cups, pots & cans, and bottles mainly for residential customer use. It is manufactured from fossil hydrocarbon-based plastic polymers. High demand for biodegradable rigid plastic packaging, growing urbanization, and increasing disposable income are documented as the major driving factors to Insurance Analytics Market. However, high cost of initial setup may restrain overall market growth in the years to come. Rigid Plastic Packaging Market is segmented based on type, production process, application, and region. Tubs, cups, ! & pot s; bottles & jars; trays; caps and closures; containers; and the other types could be explored in Rigid Plastic Packaging in the forecast period. Bottle sector may account for the substantial market share of Rigid Plastic Packaging and is estimated to lead the overall market in the near future. This may be due to high demand from manufacturers like agriculture, food & beverages, home care, pharmaceuticals, and cosmetics and increasing demand for bottle beverages across the globe. Thermoforming, extrusion, blow molding, injection molding, and the other production processes could be explored in Rigid Plastic Packaging in the forecast period. The injection-molding sector may account for the significant market share of Rigid Plastic Packaging and is estimated to continue its dominance in the upcoming period.

The market may be categorized based on application like food & beverage, industrial packaging, healthcare, personal care, and others that could be explored in the forecast period. The other sector comprises household care and customer food service. The beverage sector may account for the substantial market share of Rigid Plastic Packaging and is estimated to lead the overall market in future. Rigid Plastic Packaging Market is segmented geographically into Americas (North America, South America), Europe (Eastern Europe, Western Europe), Asia Pacific (India, China, Japan, New Zealand, and Australia), Middle East (UAE, Saudi, and Qatar), and Africa (South Africa). Globally, Asia Pacific may account for the significant market share of Rigid Plastic Packaging and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be rapid urbanization, industrialization, and presence of developing countries like India and China. The key players of Rigid Plastic Packaging Market are Silgan Holdings, Amcor, RPC, ALPLA Werke, Berry Global, Bemis, Winpak, Coveris, Crown Packaging, and Sealed Air. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.

Rigid plastic packaging generally refers to bottles, containers, tubes, caps, and closures made from plastic material. Rigid plastic packaging material is experiencing high annual growth, which is attributed to the high demand for polyethylene terephthalate (PET) products. Based on the type, the global rigid plastic packaging market is segmented into global rigid bottles market, global rigid plastic containers market, global rigid plastic cups and closures market, and other rigid plastic packaging products market. The other rigid plastic packaging products include collapsible tubes, blisters, and clamshells.The report covers the present scenario and the growth prospects of the global rigid plastic packaging market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography: Â

Â Â Â - AmericasÂ Â Â Â Â - APACÂ Â Â Â - EMEA

Global Rigid Plastic Packaging Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

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